Brian Tracy outlines five ways to build wealth: starting a business (the most common path), climbing the ranks at successful companies, becoming a high-earning professional, excelling in sales, or through rare sources like stocks or inventions. He stresses that persistence, skill development, and smart money management matter more than luck.
Brian Tracy
October 27, 2016
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Decide exactly what you want and resolve to persist, no matter what happens, until you achieve it. Hello, I'm Brian Tracy. And for those of you who are really serious about becoming wealthy, I want to share with you the five primary ways that fortunes are made. The first is become an entrepreneur. The number one road to riches at the head of the list is entrepreneurship. Starting and building a successful business. Entrepreneurship includes every kind of business from farming and trucking to real estate and computers. In fact, 75% of self made millionaires in the United states going back 200 years come from self owned businesses. A person starts with an idea for a product or service, turns it into a business, builds it up from the ground floor and as a result becomes wealthy. Henry Ford, Andrew Carnegie, Bill Gates and Larry Ellison are all people who started with little or nothing and built their own successful businesses. And there are millions of others. The second way to become wealthy is to work your way up. Another way to become rich is as a highly paid executive of a successful company or as an employee of a company that awards stock options that become valuable. 10% of self made millionaires in the US are people who have joined large corporations or companies that became large and worked for those companies for many years. They usually worked hard, were promoted and paid well, earned stock options, bonuses and profit sharing. And as a result of holding onto that money, they became millionaires and even multi millionaires. This isn't only counting those people that started in high ranked positions by the way. It is true for employees that started as secretaries and programmers who received valuable stock options early on in their career and then became very wealthy after exercising them later on. The third way to become wealthy is to become a professional. A major source of self made millionaires consists of professional people. This includes doctors, dentists, lawyers, architects, engineers and others with advanced degrees who can charge high fees for their services. These people earn their degrees, dedicate themselves to becoming very good at what they do, rise to the top of their professions, earn high incomes and then hold on to the money. 10% of self made millionaires in the US fall into this category. The fourth way to become wealthy is to get into sales. An important source of self made millionaires is salespeople and sales consultants. 5% of self made millionaires in the US are are people who are experts and at the top of their fields in selling. They never started their own businesses. Few of them went to college or earned professional degrees. Instead, they become very good at selling a product or service and were paid very well for doing it. In addition, they managed their money well as everyone should, investing it intelligently and made it grow until they were millionaires or better. Now we're left with the types of people who make up the remaining less than 1% of self made millionaires. This 1% includes all the people who have made their money in the stock market, with inventions in show business, sports, throughout the authorship of books and songs as lottery winners and all other sources. Unfortunately, because this group gets so much publicity, many people think that they are typical of the people who get rich. The fact is that they are quite rare. The majority of us will have to choose a more practical, conventional path and although it may not lead to overnight success, it is still entirely possible and realistic for you to reach this level of wealth and security. In fact, the not only is it possible, but you have complete control over whether or not it happens. Before we wrap up, I'd like to leave you with a thought to share with your friends and followers. It is this Decide exactly what you want and resolve to persist, no matter what happens, until you achieve it. This is the great key to success now. I love to hear from you. So my question today is this what's holding you back from pursuing one of these five paths toward wealth and abundance? Leave a comment below and I'll be sure to follow up with you. If you enjoyed this video and you feel it was valuable in teaching you how to become wealthier, subscribe to my channel like this video and share this video with your friends or anyone else who might benefit from this information. Thanks for watching. And remember, if you want to change your future, take action. And take action now. Discover how to build a profitable business and become wealthy by clicking the button on the screen or in the description and downloading my free guide, the Way to Wealth. For more information about how to increase your income and your overall position in life, Visit my website, www.briantracy.com.
